First, does the machine fit you? Is it comfortable and are you in a good mechanical position on the machine? This is really important when choosing bikes and ellipticals, where a poor fit can lead to bad form and unnecessary wear on your body. Second, does the machine provide variation? This can come in the form of incline, resistance, seat and stride length adjustments to name a few. Variation is a key to preventing adaption, boredom and repetitive movement patterns. Lastly, do you have any physical limitations, (other than being out of shape), that would prevent you from exercising 30-60 minutes on it daily? If you have a physical ailment that warrants low impact activities, equipment like bikes, rowers and ellipticals may be good options.
While there are certainly bio-mechanical differences, advantages and disadvantages to all exercise equipment, the simple answer is this. The best piece of equipment is the one that you will use consistently. You can vary the intensity and time on all pieces of equipment, so the key is to select the machine that feels good, feels right and that you want to get on to get your workout in! Your enjoyment of using the equipment will get you going and keep you going. Consistency is Key!